@crazyRoth333 wrote:
Apologies for the delay. I finally resurrected 2019 turbotax to deal with the amendment process.
I'm struggling how to input it (which was the issue i got into when i first filed it). If i enter the 6k contribution, it gets me a penalty. If i say it's removed, then it doesn't generate 8606 form.
any Ideas?
I finally found my 2019 turbotax to deal with the amendment process.
I'm struggling how to input it.
> Deduction&Credits
> Traditional&Roth IRA COntribution
> Select the Kind of IRA you own/contribute in 2019
Checked x Traditional IRA
X Roth IRA
> No. (a repayment to Retirement Distrubution)
> How much is contributed
2019: 6000
> How much of the amount is Switch or "Recharacterize" (doesn't include conversion or rollovers) to Roth IRA?
> 0 (is this right?)
> Did you make a Roth IRA contribution in 2019?
> No
> Do you have any excess Roth Contribution:
> No
> Contributions withdrawn before due day.
> Enter any excesxss contribution you withdrew before July 15
> 0
> Enter any contributions you withdrew before July 15
> 6000
I apologize, after rereading your question, I know of no way of doing it the way I suggested. You had until the due date (or extended due date) to remove the Traditional IRA excess. You did not do that but converted an invalid contribution to a Roth which was also invalid. You had the Roth returned to you but that does not account for the tax on the conversion and I know of no way to account for that.
Sorry for misleading you.
I would suggest consulting a tax professional in your area for help. Many things can be done with professional software that do-it-yourself software cannot do.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
